The Role of Ethics in Economics and Management: Galbraith–Drucker approaches

Autor:	Miguel-Angel Galindo, Joaquín J. Guzmán Cuevas
Rok vydání:	2008
Předmět:	Economics and Econometrics Virtue media_common.quotation_subject Profit maximization Law Economics Social behaviour Capitalism Neoclassical economics General Economics Econometrics and Finance media_common
Zdroj:	International Advances in Economic Research. 14:242-246
ISSN:	1573-966X 1083-0898
DOI:	10.1007/s11294-008-9142-2
Popis:	Ethics has been linked to virtue, considering it within an individual sphere. It has also been related to good social behaviour or even religious factors, and so on. In general, economic thinkers have not questioned some of the basic principles which help to shape the fundamental ethical criteria in economic behaviour. The pursuit of individual interest has been identified as pecuniary profit maximization and, in this sense, Peter Drucker states that this has been the fundamental motivation of any economic agent, even before capitalism was born and Galbraith pointed out that the lack of consideration of other motivations, apart from earning money, has been one of the biggest mistakes in economics. The main goal of this paper is to analyse the Drucker and Galbraith approaches on ethics.
Databáze:	OpenAIRE
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